More cautious approach to Pacific follows region's strong performance

Hugh Young is urging short-term caution on Asian equity markets following a strong run by the region. Young has a track record and reputation that suggests his views should be taken very seriously indeed. His offshore Asia Pacific fund has achieved top quartile performance in its S&P sector in each of the last five years. He remains long-term bullish on the region but argues the upside is constrained by near-term risks. While the rise of Asian consumers is a positive, Young points out they still tend to be savers rather than spenders, although this is now changing as a younger generation...